Kenya Seeks IMF Assessment on Corruption Following Western Pressure

The Kenyan government has formally requested the International Monetary Fund (IMF) to conduct an official assessment of corruption and governance issues within the country, according to two sources familiar with the situation. This request follows mounting pressure from Western nations advocating for increased accountability and transparency in Kenya’s financial practices.

The IMF offers a “governance diagnostic” to countries seeking to evaluate how corruption and governance vulnerabilities may be impacting state finances. During a scheduled press briefing in Washington, IMF spokesperson Julie Kozack confirmed that the Fund has been encouraging Kenyan authorities to pursue such an assessment. “Promoting good governance remains an essential part of the IMF engagement with the Kenyan authorities,” she stated.

Kenya is currently grappling with a debt crisis, with its financial obligations reaching precarious levels in recent years. Earlier this year, the government faced public backlash, leading to protests that ultimately resulted in the withdrawal of proposed tax hikes, complicating its efforts to secure a $600 million disbursement from the IMF.

One source indicated that while the assessment might not be directly linked to the disbursement, it could serve as a demonstration of goodwill in the country’s ongoing efforts to stabilize its finances. Public sentiment regarding government waste and corruption played a pivotal role in the protests that erupted in June, highlighting the urgent need for reform.

As of now, Kenya’s finance ministry has not responded to requests for comment on the matter. The recent push from Western nations is seen as a critical step in reinforcing the IMF’s commitment to promoting good governance in Kenya and supporting the country’s financial recovery.

Source:  Reuters